Hospital Finance Jobs Nyc

New York City, a global hub for finance and healthcare, offers a diverse and competitive landscape for hospital finance professionals. These roles are crucial for the financial health and operational efficiency of hospitals and healthcare systems throughout the five boroughs.

Hospital finance jobs in NYC encompass a wide range of specializations. Financial Analysts are responsible for budgeting, forecasting, and analyzing financial performance. They track revenue and expenses, identify trends, and develop reports to support strategic decision-making. Strong analytical skills, proficiency in financial modeling, and a solid understanding of healthcare reimbursement models are essential for success in this role.

Revenue Cycle Managers play a critical role in ensuring that hospitals receive timely and accurate payments for services provided. They oversee the entire revenue cycle process, from patient registration to claims submission and payment collection. Their responsibilities include managing coding and billing compliance, negotiating contracts with insurance providers, and resolving claim denials. Knowledge of ICD-10, CPT, and HCPCS coding systems, as well as federal and state regulations, is highly valued.

Budget Analysts focus on developing and managing hospital budgets. They work closely with department heads to allocate resources effectively and monitor spending against budget targets. This role requires strong attention to detail, analytical skills, and the ability to communicate complex financial information clearly and concisely.

Controllers and Chief Financial Officers (CFOs) hold leadership positions responsible for the overall financial management of the hospital or healthcare system. They oversee all financial operations, including accounting, budgeting, financial reporting, and treasury functions. These roles require extensive experience in healthcare finance, strong leadership skills, and a deep understanding of the regulatory environment.

Several factors contribute to the demand for hospital finance professionals in NYC. The city’s large and diverse population, aging demographics, and complex healthcare system create a constant need for skilled financial managers. Furthermore, the increasing regulatory burden and the shift towards value-based care require hospitals to improve their financial performance and efficiency.

To pursue a career in hospital finance in NYC, a bachelor’s degree in accounting, finance, or a related field is typically required. Many employers prefer candidates with a master’s degree in business administration (MBA) or healthcare administration (MHA). Professional certifications, such as Certified Public Accountant (CPA) or Certified Healthcare Financial Professional (CHFP), can enhance career prospects.

Salaries for hospital finance jobs in NYC are competitive, reflecting the high cost of living and the specialized skills required. Entry-level positions, such as financial analysts, may offer salaries in the range of $60,000 to $80,000 per year. More experienced professionals, such as revenue cycle managers and controllers, can earn salaries in excess of $100,000 per year. CFOs typically command salaries in the range of $200,000 or higher.

In conclusion, hospital finance jobs in NYC offer challenging and rewarding career opportunities for individuals with a strong financial background and a passion for healthcare. The city’s vibrant healthcare industry and competitive job market provide ample opportunities for professional growth and advancement.